United States, Virginia, Falls Church - 08/21/2019 — Federal Government EXPERTS (FGE), LLC in partnership with Coral BlockChain (CB) introduces the Rapid Acquisition Facilitation Tool (R.A.F.T.), which automates government procurement using state-of-the-art technology to streamline workflow processes.
According to the Hon. Ellen Lord, Under Secretary of Defense for Acquisition & Sustainment, “Acquisition Reform a Top priority”, www.defense.gov, Feb. 2019
“The DoD acquisition workforce is responsible for 89 major defense acquisition programs, costing a combined total of nearly $2 trillion. Acquisition reform is one of the three lines of effort spelled out in the 2018 National Defense Strategy. In summary, reform is about being quicker to ensure [and to] get capability downrange to the warfighter at the best price.”
In FY18 the Federal Government purchased nearly $520 billions of goods and services for its day-to-day operation. Federal acquisition professionals serve as the conduit that enables program personnel to deliver mission-oriented objectives as efficient and objective stewards of taxpayer funds.
Federal agencies have been searching for comprehensive emerging tech-empowered tools to support an agile acquisition process. Federal Government Experts, LLC (FGE) in collaboration with Coral Blockchain, a MIT startup, has developed the Rapid Acquisition Facilitation Tool (R.A.F.T.), to provide agencies with a collaborative, iterative, and agile approach to Federal acquisition.
Research shows that out of the $135 billion or 670,000 full time equivalent personnel who impact the Federal Acquisition process, each agency, procuring activity and procurement are uniquely different and often non-standardized; necessitating a tool that builds on the foundation of an agile methodology but can be rapidly adapted. The primary challenges R.A.F.T addresses are as follows:
• Requirement Definition: Inability to clearly identify the objective of the requirement(s)
• Acquisition Planning: Limited resources and time result in incomplete and ineffective acquisition planning.
• Source Selection: Inconsistent acquisition criteria and forms with ambiguous language, e.g. non-correlated sections L and M.
• Contractor Governance: Poor visibility around current contactor performance data coupled with a geographically dispersed work force.
R.A.F.T. supports the acquisition workforce and the regulatory process, enabling contracting and non-contracting professionals to collaborate on requirements definition. R.A.F.T.'s AI and collaboration abilities are built on a powerful data integration platform that provides a seamless link to any current or previous procurement or program data set(s), irrespective of its native format. Its primary capabilities address the aforementioned challenges through:
• Artificial Intelligence: A powerful AI Assistant provides information and references, catches errors and initiates workflows
• Machine Learning: R.A.F.T. is smart acquisition that learns the nuances of an agency and contracting patterns to continuously improve operations.
• Distributed Ledger: Contracting activity, documents and internal criteria are housed on distributed ledgers providing traceability, security and data recovery.
• Audibility: R.A.F.T. activities and records are logged on distributed ledgers, providing auditable records and activity logs.
About The R.A.F.T. Team -
The R.A.F.T. Team is comprised of Blockchain, AI and Acquisition experts who are known for its technological prowess in analytics, federal procurement and workflow automation. They give clients solutions that make processes more agile than ever by utilizing highly advanced technologies.
Media Contacts:Company Name: Federal Government Experts, LLC